June 1-14, 2014 Calgary Real Estate Market Update

There’s been a welcome change of pace for my buyer clients of late.  We’ve been able to view multiple homes in a day instead of just rushing out to each new listing the moment it popped onto the market.

Through two weeks in June, new listings have spiked 21.6% y/y and are above the ten year average.   This has eased some pressure off the market which had teetered towards more balanced conditions earlier this month.

New Listings

New Listings

However, thanks to strong sales, the sales-to-new-listings ratio this week was once again north of 60% (seller’s territory).

Between June 1-14, Calgary home sales have increased 13% y/y and are still on pace for the second highest June level on record.

Condo-Townhouse sales have been especially robust and just might climb to a new June peak.   The Condo-Townhouse segment is also the deepest in seller’s territory with a sales-to-new-listings ratio of 77%.

Calgary home sales, June 1-14, Y/Y comparison

Calgary home sales, June 1-14, Y/Y comparison

Average & median prices are up across all 3 housing categories:

Single Family Homes
Average:   +6.48%
Median:  +9.89%

Condo-Apartment
Average:   +10.78%
Median:  +4.76%

Condo-Townhouse
Average:   +4.45%
Median:  +5.05%

Active Listings

Active Listings

For a little more perspective, even though active listings are about on par with a year ago, there are still over 1,000 fewer homes on the market (-17.6%) than there were two years ago.

Calgary luxury sales, June 1-14, Y/Y comparison

Calgary luxury sales, June 1-14, Y/Y comparison

Statistics Summary, June 1-14, Y/Y comparison

Statistics Summary, June 1-14, Y/Y comparison

You can follow the statistics daily at my other website:

FindCalgary

Questions? Ready to buy or sell real estate? I can be contacted at mike@findcalgary.com or 403-554-2284

2 responses to “June 1-14, 2014 Calgary Real Estate Market Update

  1. I would guess this june and july to be far stronger volume wise than last july do to the city not being shut down by flood?

  2. Hello na,

    The flood didn’t impact Calgary until the third week of June, so this y/y comparison for June 1-14 is apples-to-apples.

    Also, overall July sales last year were just shy of setting a new record for the month, so an improvement over that would be quite an achievement.

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